If you’re a current Costpoint user then you’ve most likely heard or been contacted about the rollout of Costpoint 7. But, if you’re like most people, you probably still have a few questions like these...
What’s different about Costpoint 7?
Costpoint 7 (CP7) is Deltek’s latest major software release and is a completely web-based platform with an updated look and feel. The web-based interface allows for an easier integration with other critical systems & applications. All of the core modules such as Projects, Accounting, People, and Materials have received some enhancements. With this, all major areas now have “table view” as well as “form view.” From the table view, data can be entered, queried, sorted and/or copied directly into Excel. In addition to the new look and feel of the screens, all screens now have the ability to stretch to fit the user screen and allow more data to be seen at once. Individual users can rearrange and save these configurations in each screen. Copy and Query buttons have been added to most screens to allow easier data entry and search.
Costpoint 7 also includes ACRN/WAWF improvements, additional preprocessors such as cash receipts & fixed assets, and upgrades to existing preprocessors. Materials enhancements include UID and RFID, and updated Sales Order Entry. Greater segregation of duties with enhanced system admin and security functions.
So, why should you upgrade to Costpoint 7?
Deltek has issued a product alert that Costpoint 6.1 (SP2) will move to sustained support on October 1, 2013. What this means is that current customers will still have access to all existing fixes or service packs but there will be no new software enhancements (i.e. hot fixes, service packs or regulatory updates) in the sustained support phase. But, the extension of those services comes at a cost. Significant fees are associated with continued CP6 support.
If you’ve been waiting to move to Costpoint, then now is a great time to do it. As with any new release of software there were some bugs associated with Costpoint 7. As of April 23rd, Costpoint 7.0.1 was released including fixes and enhancements. As a current Deltek Costpoint user with an active support agreement, you can download the new software at any time from the Customer Care Connect website. Those who have already transitioned to Costpoint 7.0 should be advised that they too should transition to version 7.0.1 by November 1, 2013. Just as 6.1 (SP2) will move to “sustaining support” status in October, so will version 7.0 by the November date. Fortunately, moving from version 7.0 to 7.0.1 should be less cumbersome.
How long will it take to implement?
Since this is a completely new platform you should treat this conversion as such. We recommend allowing 3-6 months to allow time for planning, testing & training. This time can vary depending on the size of the company, amount of data to move, availability of consultants and in-house staff, and any changes you want to incorporate.
How much will it cost?
Before you make the switch here are some things to consider regarding cost. If you maintain your own Costpoint database, consider the IT staff impact and hardware requirements and/or improvements that may need to be made before you move to Costpoint 7. If you’re currently hosting your software, or considering hosting, then this has most likely been done.
While there is no cost associated with updating the software itself, there will be costs associated with the implementation of the new system. However, it should be noted that the cost of continuing with the previous version of Costpoint could be even greater. Maintenance costs for prior versions are expected to be in the tens of thousands of dollars.
Special thanks to Kelly Peters for sharing her expertise in writing this post.